Wepawaug-Flagg Federal Credit Union this week rebranded as Crosspoint FCU.
A press release on behalf of the $116 million-asset institution explained that the Hamden, Conn.-based CU’s former name represented a combination of the nearby Wepawaug River and the names of the credit union’s founders, Wayne and Naomi Flagg. Moreover, in the language of the Native American Paugussett tribe, the word “Wepawaug” meant “the crossing place.”
The new name is a play off of that translation.
“As Crosspoint, we now have a brand that clearly identifies how we are preparing everyday people to make better financial decisions through each transition point in their lives,” Crosspoint FCU President and CEO Michael J. Hinchey said in a statement.
Founded originally in 1936, the credit union had carried the Wepawaug-Flagg name since 1966.
In honor of the new name, Crosspoint FCU donated $1,000 to The Community Foundation for Greater New Haven for its Neighborhood Leadership Program.
The credit union posted net income of $689,001 for the first nine months of 2018, after recording a net loss of $643,185 in the same period of 2017.
